Company Elon Musk, Tesla officially expanded to Thailand. Tesla Company (Thailand) Ltd. has been registered as a new company in the White Elephant country with an initial capital of 3 million baht or around Rp. 1.28 billion (assuming an exchange rate of Rp. 426 per bath).
Quoted from Thai EnquirerThe Thai Ministry of Commerce explained that Tesla will sell various types of electric vehicles. In addition, Tesla will also build an energy storage system (energy storage system/ESS) or also known as a power bank.
Tesla’s entry is in line with the Thai government’s policy of encouraging the use of electric vehicles to reduce carbon emissions.
In fact, the Thai government in March 2022 approved 3 billion Baht from the 2022 fiscal budget to fund electric vehicle incentives. The funds include subsidies to the retail price of electric vehicles and excise tax exemptions.
Quoted from electrek.co, Thailand will be the first Southeast Asian country for Tesla to sell its energy storage systems and batteries. Most of these products have so far been limited to sale in the US.
Tesla also takes into account that many of its production electric vehicles have been imported by the Thai people. This is certainly a main consideration for Tesla when it wants to invest in the country. In fact, the Thai police bought a lot of electric cars made by Tesla for patrolling.
On the other hand, a report from Equipment News said that Thailand will become the fourth largest country in Asia for electric car battery production, according to research by the Kasikorn Research Center (K-Research).
The research shows that the assembly and production of electric vehicle batteries in Thailand is predicted to reach 430,000 units by 2023. In addition, sales of hybrid electric cars, plug in hybrids and electric vehicle batteries in Thailand will reach 25 percent of the total car market.
“The electric car market is expected to increase significantly from 2019 as many car manufacturers have applied for the Board of Investment (BoI) to localize the assembly of electric vehicles,” K-Research said in a statement.
Seeing this, Thailand will become a center for exporting electric vehicle batteries. A total of 260 thousand units of the total 430 thousand battery production in 2023 will be supplied to the domestic market. Meanwhile, 40 percent or 170,000 batteries will be exported abroad.
The electric vehicle batteries will be exported to Japan, Oceania, Singapore and Malaysia due to rising revenue growth and the country’s government support for electric vehicle facilities.
(rr/sfr)
–
